Helmerich & Payne (NYSE:HP) Given New $38.00 Price Target at TD Cowen

Helmerich & Payne (NYSE:HP) had its price objective upped by TD Cowen from $35.00 to $38.00 in a research report released on Monday, MarketBeat Ratings reports. They currently have a hold rating on the oil and gas company’s stock.

A number of other analysts also recently weighed in on HP. JPMorgan Chase & Co. raised shares of Helmerich & Payne from a “neutral” rating to an “overweight” rating and increased their price target for the company from $24.00 to $34.00 in a report on Wednesday, December 10th. Morgan Stanley reaffirmed an “underweight” rating and set a $28.00 price objective on shares of Helmerich & Payne in a research report on Wednesday, January 21st. Susquehanna reissued a “positive” rating and set a $40.00 target price on shares of Helmerich & Payne in a research report on Friday. Piper Sandler upgraded Helmerich & Payne from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $21.00 to $35.00 in a research note on Thursday, December 18th. Finally, Evercore raised their price objective on Helmerich & Payne from $20.00 to $27.00 and gave the stock an “in-line” rating in a research report on Wednesday, November 19th. Three research analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $34.64.

Helmerich & Payne Stock Performance

HP opened at $35.72 on Monday. The company has a quick ratio of 1.58, a current ratio of 2.03 and a debt-to-equity ratio of 0.75. The stock’s 50 day moving average price is $30.97 and its two-hundred day moving average price is $25.30. The firm has a market capitalization of $3.57 billion, a P/E ratio of -11.20 and a beta of 0.57. Helmerich & Payne has a 12-month low of $14.65 and a 12-month high of $36.73.

Helmerich & Payne (NYSE:HP) last issued its quarterly earnings results on Wednesday, February 4th. The oil and gas company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.27). The business had revenue of $1.02 billion for the quarter, compared to analyst estimates of $990.16 million. Helmerich & Payne had a positive return on equity of 0.28% and a negative net margin of 7.71%.The firm’s quarterly revenue was up 50.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.71 earnings per share. On average, equities analysts forecast that Helmerich & Payne will post 2.93 earnings per share for the current year.

Helmerich & Payne Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 27th. Investors of record on Friday, February 13th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.8%. The ex-dividend date is Friday, February 13th. Helmerich & Payne’s dividend payout ratio (DPR) is -31.35%.

Insiders Place Their Bets

In other Helmerich & Payne news, Director Hans Helmerich sold 75,000 shares of the company’s stock in a transaction on Friday, December 19th. The stock was sold at an average price of $28.12, for a total value of $2,109,000.00. Following the sale, the director directly owned 496,735 shares in the company, valued at $13,968,188.20. This represents a 13.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 4.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On Helmerich & Payne

Hedge funds and other institutional investors have recently bought and sold shares of the business. American Century Companies Inc. boosted its stake in Helmerich & Payne by 7.7% in the third quarter. American Century Companies Inc. now owns 3,474,036 shares of the oil and gas company’s stock worth $76,741,000 after purchasing an additional 249,425 shares in the last quarter. Invesco Ltd. raised its holdings in shares of Helmerich & Payne by 1.5% in the third quarter. Invesco Ltd. now owns 3,003,086 shares of the oil and gas company’s stock valued at $66,338,000 after buying an additional 43,158 shares during the last quarter. Balyasny Asset Management L.P. lifted its position in Helmerich & Payne by 4.3% during the 3rd quarter. Balyasny Asset Management L.P. now owns 2,132,265 shares of the oil and gas company’s stock worth $47,102,000 after buying an additional 87,882 shares in the last quarter. Fisher Asset Management LLC lifted its position in Helmerich & Payne by 1.5% during the 4th quarter. Fisher Asset Management LLC now owns 1,731,208 shares of the oil and gas company’s stock worth $49,651,000 after buying an additional 25,085 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its holdings in Helmerich & Payne by 22.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,720,505 shares of the oil and gas company’s stock worth $26,083,000 after acquiring an additional 321,004 shares during the last quarter. 96.05% of the stock is owned by institutional investors and hedge funds.

Helmerich & Payne Company Profile

Helmerich & Payne, Inc is a leading provider of contract drilling services to the oil and gas industry, specializing primarily in onshore drilling operations. The company designs, engineers and operates a fleet of advanced drilling rigs, including its proprietary FlexRigs, which are engineered for high efficiency, safety and rapid mobilization. Alongside core drilling services, Helmerich & Payne offers well intervention, workover and coiled tubing services, positioning itself as a comprehensive drilling solutions partner for exploration and production companies worldwide.

Founded in 1920 and headquartered in Tulsa, Oklahoma, Helmerich & Payne has grown through innovation and strategic expansion to serve diverse hydrocarbon basins.